Tanzania exports rise amidst falling virus restrictions

THE Tanzania external sector has continued improving as the intensity of Covid-19 pandemic and restrictions on global economic activities fade. According to the Bank of Tanzania (BoT) monthly economic review for September, the situation has contributed to an increase in the exports of goods coupled with a decrease in imports. The value of exports of goods and services amounted to $9,300.2m in the year ending August compared to $8,972.7m in the corresponding period in 2019, owing to an increase in goods exports. The value of traditional exports almost doubled to $995.6m in the year ending August from $512.5m recorded in the corresponding period last year, explained by increased exports value for cashew nuts, cotton, cloves and sisal. Sisal exports rose on account of increase in both volume and unit prices. Export values for cashew nuts, cotton and cloves rose due to improved export volumes, supported by improved production. By contrast, export values for coffee and tea declined on ...